How to start up a business in Europe

1. How to start up your
business in Germany in …
steps

2. STEP 1: Your business idea
BUSINESS IDEA
The center of your future business => must be well-thought-out
Find a partner/a coach to help you develop and check
the idea
(take a local businessman, a business teacher or look for someone at a
university)
(By the way: Is it going to be a part-time or a full-time job? => think about insurances and taxes…)

3. STEP 2: Find out about your market
Conduct a market research
Customer:
- Target group
- Its needs
Supplier:
- Supplying prices
- Continuity of supply
- Cost-value-ratio
Competitors:
- Property rights
- New developments
Similar/substitute products:
- Existence?
- Price Market:
- Development (history and future)
- Size of the total market

4. STEP 3: Development of the corporate identity
BUSINESS STRATEGY
SWOT-analysis
Strengths
Weaknesses
Opportunities
Threats
Corporate vision
1) Present goals
2) Future goals (5 year period)
Realization of the
strategy
Meetings to implement
the strategy in your
company

5. STEP 4: Legal form and personnel structure
Decide on a legal form for
your company
(most common in Germany: GmbH, OHG, KG,
GbR, AG)
Leadership within the business:
working in equal teams
vs
strict hierarchy
(tasks: managing director, sales,
marketing, research)
Formalities to get by
authorities
- Licences / qualifications
- Permissions
- Insurances (for you and for
employees)

6. STEP 5: Financial planning
Financing your business
Budgeting
- Cost of employees (wages,
insurances, etc.)
- Cost of material
- Operating costs (rent, consulting,
running costs, marketing, etc.)
Budget control
- Price fixing
- Break-even-analysis
Sources of finance
- Crowd funding
- Bank loan
- Subsidies (KfW, EU, HWK, BMWi)
Cooperation with
the tax office

7. STEP 6: Going public
Information of customers
Website
Press release
Social media
People need to be informed about your company and about your product!
Company presentations
(possible future
cooperations)

8. Marketing strategy and promotion
Public relations
(press releases, etc)
Direct marketing
(contacting
customers via
internet, phone
calls or visits)
Advertising
(Internet, radio, TV,
newspapers, fairs, cinema)
make your product popular!